Yes Bank barred from making payments: Hyatt Residency Mumbai owner after shutting operations
Shortpedia
Content Team
Image Credit: money control
Asian Hotels (West), owner of Hyatt Regency Mumbai, whose operations have been suspended, on Tuesday said Yes Bank has barred it from making payments from an escrow account following a loan default. In a regulatory filing, Asian Hotels (West) said the company on April 28, 2021, defaulted on a loan repayment to Yes Bank due to the massive effect of COVID-19 pandemic on the company and the entire hotel industry.
